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Paul Volcker, in full Paul Adolph Volcker, (born September 5, 1927, Cape May, New Jersey, U.S.—died December 8, 2019, New York City, New York), American economist and banker who, as chairman of the board of governors of the U.S. Federal Reserve System (1979–87), played a key role in stabilizing the American economy during the 1980s.

American economist and chair of the Federal Reserve Paul Volcker testifies before the House Banking Committee in Washington, DC, on February 19, 1986. Mark Reinstein/Corbis via Getty Images

Paul Volcker died three years ago at age 92. And David Kestenbaum from our Planet Money podcast has more on Volcker's costly-but-ultimately-successful fight to tame inflation.

Paul A. Volcker, Fed Chairman Who Waged War on Inflation, Is Dead at 92. Mr. Volcker helped shape American economic policy for decades, notably by leading the Federal Reserve’s brute-force ...

Born: September 5, 1927. Died: December 8, 2019. Paul A. Volcker became chairman of the Board of Governors of the Federal Reserve System on August 6, 1979. He was reappointed for a second term on August 6, 1983, and served until August 11, 1987. Volcker was born in 1927 in Cape May, New Jersey.

Paul Volcker was Chair of the Federal Reserve from 1979 to 1987. In 1980, the Volcker Shock raised the fed funds rate to its highest point in history to end double-digit inflation. In 2015, the Volcker Rule prohibited banks from using customer deposits to trade for their profit.

Paul Volcker is widely acknowledged as the premier inflation fighter in Federal Reserve history. When President Carter nominated him to be Fed Chair in July 1979, Volcker knew he faced a daunting...

Paul Volcker, who died Sunday at 92, towered, physically and metaphorically, over his contemporaries. At 6 foot 7, he was the tallest person in any room. Volcker was also among a small number of men who, starting in the late 1970s, ushered in a 40-year era of Western monetary and financial policy.